Has the crash finally bugun?

guppy

!!!!!!? wrote: »

Unless fundamentals change, then historical cycles are likely to be repeated. The very basis of our financial system encourages boom/bust and nothing has occurred in recent times to change that.

As well as the financial system I'd say human nature is a big factor too in respect of residential property...there are so many reasons to want to believe that buying at any cost is the right thing to do, thus fuelling the unsustainable boom.

A few that come to mind are fear of being left behind, greed, untempered optimism, short-sightedness, lack of hindsight, gullibility etc. etc.

I'm not just thinking of buyers but all the other people that have a vested interest in property...e.g. politicians, bankers, estate agents, etc. etc.

I suppose that if the market starts to slide, the exact opposite of the above emotions will come in to play exacerbating the bust.

dealornodeal_3

PROFESSIONAL_LANDLORD wrote: »

Wow ! 60% I think that's the highest prediction i've seen!

early days though ! shortly we'll see B.O.G.O.F.

The New BTL then

No Ive seen 50/60% elsewhere. We will see?

budget_counsellor_shaz

We are buying at the moment, my husband has changed jobs and we are in the process of moving to a new area. We don't own a house at the moment so he stays in lodgings all week and I am staying with family, not ideal.:rolleyes: I've tried to find somewhere to rent but i have a dog and 2 cats and i'm not keen on commiting to 6 months.:eek:

Although I do believe the prices will drop (and I hope they do as I want my children to be able to afford somewhere.....) we have still decided to buy.

Shaz

Rover

Everyone needs a home Shaz. And if you intend to live in it for more than the short term - you'll be OK. Although, I have to say, in your circumstances - with no children - I'd rent.
Still as the new rightmove stats for asking prices show - the market is booming still. I knew Bruno was right !

dealornodeal_3

Rover wrote: »

Everyone needs a home Shaz. And if you intend to live in it for more than the short term - you'll be OK. Although, I have to say, in your circumstances - with no children - I'd rent.
Still as the new rightmove stats for asking prices show - the market is booming still. I knew Bruno was right !

I dont think the market is booming, its dropped back. Repossessions, and people in debt. I cannot see a halt to this, and FTBs unablr to get on the ladder?

Rover

Perhaps sarcasm isn't my forte?

budget_counsellor_shaz

Rover wrote: »

Still as the new rightmove stats for asking prices show - the market is booming still. I knew Bruno was right !

Sorry Rover I don't agree my buyer has agreed to more than a 10% drop on her original price. When people need to sell they will sell. The prices on rightmove aren't what people are actually paying.:D

Time will tell:rotfl:

Shaz

PROFESSIONAL_LANDLORD

budget_counsellor_shaz wrote: »

We are buying at the moment, my husband has changed jobs and we are in the process of moving to a new area. We don't own a house at the moment so he stays in lodgings all week and I am staying with family, not ideal.:rolleyes: I've tried to find somewhere to rent but i have a dog and 2 cats and i'm not keen on commiting to 6 months.:eek:

Although I do believe the prices will drop (and I hope they do as I want my children to be able to afford somewhere.....) we have still decided to buy.

Shaz

No that's certainly not ideal, prices will no doubt drop a bit, but they will recover

good luck

Rover

You're right time will tell.
Being almost serious for a moment. Historically, price fluctuations take years to bottom and indeed top.
If the 'cycle' is consistent, prices won't bottom for maybe 4/5/6 years. And the up side will take just as long.
So, in the interim, you still need a home - which is really the most important thing.
House prices, just like other equities, rise and fall.
This message will eventually filter through and shortly I suspect.

Rover

PROFESSIONAL_LANDLORD wrote: »

Prices will no doubt drop a bit, but they will recover

Define, abit ?